Fort Wayne Medical Society Foundation Inc
- Assets
- $12.4m
- Revenue
- $11.7m
- Investments
- $0.0
- Employees
- 133
- Location
- Fort Wayne, IN
- Founding
- 02/1965
- Data as of
- 12/2021
- EIN
- 35-6049685
Organization Overview
Fort Wayne Medical Society Foundation Inc is located in Fort Wayne, IN. The organization was established in 1965. As of 12/2021, Fort Wayne Medical Society Foundation Inc employed 133 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fort Wayne Medical Society Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Fort Wayne Medical Society Foundation Inc generated $11.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $12.3m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO MAKE DONATIONS TO OTHER CHARITABLE 501(C)(3) ORGANIZATIONS, TO ENCOURAGE AND DEVELOP EDUCATIONAL AND SCIENTIFIC ACTIVITY IN THE FIELD OF MEDICAL SCIENCE IN ALLEN COUNTY AND TO PROMOTE THE BETTERMENT OF PUBLIC HEALTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FAMILY MEDICINE CLINIC IS PART OF THE PROGRAM'S TOTAL EDUCATION PROGRAM PROVIDING FORT WAYNE WITH QUALITY HEALTHCARE SINCE 1967. LOCATED IN A MEDICAL OFFICE COMPLEX IN DOWNTOWN FORT WAYNE, THE CLINIC FUNCTIONS MUCH LIKE A LARGER FAMILY MEDICINE GROUP.
THE MEDICAL EDUCATION PROGRAM PROVIDES TRAINING IN FAMILY MEDICINE FOR PHYSICIANS THROUGH ITS RESIDENCY PROGRAMS AND MEDICAL SERVICES TO LOW AND MODERATE INCOME PERSONS AND FAMILIES IN THE FORT WAYNE, INDIANA AREA. THE PROGRAM IS FULLY ACCREDITED THROUGH BOTH THE ACCREDITATION COUNCIL FOR GRADUATE MEDICAL EDUCATION AND THE AMERICAN OSTEPATHIC ASSOCIATION.
CONTINUING MEDICAL EDUCATION (CME) IS A STRATEGIC ASSET IN HELPING CLINICIANS IMPROVE QUALITY AND SAFETY, PROVIDE BETTER PATIENT CARE, AND IMPROVE PATIENT OUTCOMES. CME IS NOT SOLELY ABOUT THE ACQUISITION OF KNOWLEDGE, BUT RATHER FORT WAYNE MEDICAL EDUCATION PROGRAM (FWMEP) ACCREDITS CME ACTIVITIES DESIGNED TO HELP CLINICIANS CONTINUALLY IMPROVE COMPETENCE, PERFORMANCE, AND OUTCOMES. FWMEP COLLABORATES WITH THE FORT WAYNE MEDICAL SOCIETY, AND LUTHERAN HOSPITAL TO ACCREDIT AND PROVIDE QUALITY CME FOR CLINICIANS IN THE FORT WAYNE REGION AND BEYOND. IN 2017 THE FWMEP CONSORTIUM EARNED THE HIGHEST CME ACCREDITATION STATUS OF SIX YEARS WITH COMMENDATION.
OTHER PROGRAMS OF THE FOUNDATION INCLUDE THE FORT WAYNE MEDICAL SOCIETY ALLIANCE AND THE COUNCIL ON SENIOR SERVICES. THE FOUNDATION ALSO MAKES CHARITABLE CONTRIBUTIONS TO OTHER ORGANIZATIONS AND ENCOURAGES EDUCATIONAL AND SCIENTIFIC ACTIVITY IN THE FIELD OF MEDICAL SCIENCE IN ALLEN COUNTY, INDIANA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Zachry Waterson DO Director | Trustee | 0.5 | $420,179 |
Aaron Coray DO Assoc. Progr | 40 | $284,953 | |
Erin Jefferson DO Director | Trustee | 0.5 | $273,464 |
Kimberly Schelb MD Assoc. Progr | 40 | $265,333 | |
Aiwen Liu MD Assoc. Progr | 40 | $261,051 | |
Steven Schwieterman MD Assoc. Progr | 40 | $260,141 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $8,448 |
| Related organizations | $0 |
| Government grants | $1,706,444 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,773,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,487,892 |
| Total Program Service Revenue | $2,773,366 |
| Investment income | $99,947 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $252,237 |
| Net Income from Fundraising Events | -$2,319 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,660,059 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $55,122 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,168,588 |
| Compensation of current officers, directors, key employees. | $100,102 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,833,254 |
| Pension plan accruals and contributions | $292,026 |
| Other employee benefits | $1,168,961 |
| Payroll taxes | $516,997 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $30,781 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $18,186 |
| Fees for services: Other | $193,276 |
| Advertising and promotion | $8,610 |
| Office expenses | $56,714 |
| Information technology | $395,814 |
| Royalties | $0 |
| Occupancy | $835,331 |
| Travel | $6,065 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,077 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $76,188 |
| Insurance | $33,314 |
| All other expenses | $78,545 |
| Total functional expenses | $12,294,496 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,610,265 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $8,122,191 |
| Accounts receivable, net | $174,481 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $381,135 |
| Net Land, buildings, and equipment | $171,503 |
| Investments—publicly traded securities | $1,867,209 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $72,773 |
| Total assets | $12,399,557 |
| Accounts payable and accrued expenses | $412,912 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $412,912 |
| Net assets without donor restrictions | $4,522,277 |
| Net assets with donor restrictions | $7,464,368 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $12,399,557 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Fort Wayne Medical Society Foundation Inc has recieved totaling $9,960.
| Awarding Organization | Amount |
|---|---|
American Osteopathic Foundation Inc Chicago, IL PURPOSE: RESEARCH GRANT | $9,960 |
Endowment Analysis
| Beg. Balance | $645,507 |
| Earnings | $76,486 |
| Ending Balance | $721,993 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Joint Commission Resources Inc Oakbrook Terrace, IL | $57,689,895 | $55,970,453 |
Fort Wayne Medical Society Foundation Inc Fort Wayne, IN | $12,399,557 | $11,660,059 |
Metastar Inc Madison, WI | $8,260,290 | $12,383,276 |
Matthew 25 Inc Fort Wayne, IN | $8,169,823 | $7,820,426 |
National Assoc For Health Care Quality Chicago, IL | $9,263,284 | $8,356,035 |
Carle Development Foundation Urbana, IL | $70,454,339 | $11,227,121 |
American Association Of Physicians Of India Orgin Oak Brook, IL | $5,929,645 | $2,661,362 |
Academy Of Communication In Healthcare Inc Lexington, KY | $2,030,393 | $1,262,328 |
Caylor Nickel Foundation Inc Bluffton, IN | $5,945 | $508,743 |
Champaign County Health Care Consumers Champaign, IL | $417,273 | $467,963 |
Beaver Dam Community Hospitals Fdn Inc Beaver Dam, WI | $5,289,230 | $733,279 |
Arthroplasty Foundation Inc Louisville, KY | $115,171 | $0 |